Nonferrous metals on both SHFE and LME declined across the board on Tuesday morning after shares on Wall Street pulled back overnight from all-time highs. Shanghai base metals fell across the board in overnight trading. Copper fell 2.52%, aluminium declined 1.32%, zinc shed 2.03%, tin weakened 1.05%, lead slid 1.37% and nickel edged down 3.03%. The LME complex fell across the board on Monday. Copper plunged 2.97% to lead the losses, zinc fell 1.59%, aluminium weakened 0.42%, tin slid 1.4%, lead edged down 0.8% and nickel dropped 1.91%. Recently, the pandemic in Hebei, Heilongjiang, Liaoning and other places rebounded, with the biggest increase in new cases in a single day in five months in China, and the increase in new cases caused demand concerns. The increased scale of US fiscal stimulus boosted the prospect of economic recovery and provided support for the US dollar, and copper prices dropped sharply under pressure. On the spot side, traders have a serious sentiment of holding prices, and the tight market supply leads to the fact that most of them want to restock, which limited the room for price reduction. Moreover, the sharp correction will stimulate traders and large-scale processing enterprises to restock. Before delivery this week, the premium is expected to remain firm and rise steadily.